The development and commercialisation of great ideas is now that bit easier thanks to the new Macquarie University Business Incubator. Opened in February, the incubator is set to attract and support innovators and entrepeneurs from all areas of business including government agencies, start-ups, small to medium businesses and industry groups.
The concept behind the incubator is to create a thriving, supportive and practical environment where groups can collaborate on ideas, share experiences, access resources and ultimately develop a market-ready product or service. The work space is already buzzing with seven start-ups that all share a desire to get their business ideas off the ground and into the marketplace.
The incubator is currently housed in a temporary pop-up space within the Macquarie Park Innovations District, however a stand-alone permanent centre is being constructed on the university grounds with construction expected to be completed in August this year.
With the university being a hotbed of innovation and research, it is hoped that the permanent hub will see the commercialisation of research and products developed by the university’s own academics and their colleagues. However the incubator, which received a $1million grant from the NSW Government’s Boosting Business Innovation Program, also hopes to nurture product development from business and industries located in the Macquarie Park and North Sydney region.